Conversica’s Market Momentum Continues in 2018 with Rapid Growth, New AI Capabilities and Series C Funding Round
Award-Winning Leader in Conversational AI Delivers New Products, Grows Customer Base and Revenue, Expands Internationally, and Completes Key Acquisition
FOSTER CITY, Calif. — October 29, 2018 — Conversica, the leader in conversational artificial intelligence (AI) for business, today announced the achievement of several key milestones in 2018, including significant growth in customer count and recurring revenue, the acquisition and integration of Intelligens, development of enhancements to the company’s AI technology, and the closing of a $31 million Series C funding round.
Conversica created and defined the conversational AI category with autonomous AI Assistants that engage in human-like conversations and take appropriate actions to solve important business problems.
In addition to closing its Series C funding round, key milestones for Conversica in 2018 include:
- Continuing aggressive growth of annual recurring revenue, now exceeding $35 million, with sales to new customers and significant expansions in existing accounts.
- Growing the customer base across a number of industries, including firms in the technology, financial services, education, sports, hospitality, and automotive sectors. Notable new customers in 2018 include Cloudera, Epicor, Gainsight, the New York Mets, Jitterbit, LeasePlan, Sutter Physician Services, Textron, and the Orlando Magic.
- Releasing new AI Assistants, new assistant skills and new third-party integrations with Microsoft Dynamics, Oracle Sales and Marketing clouds, HubSpot, and CDK.
- Expanding internationally with new offices and employees in the UK and Latin America, as well as delivering platform and security enhancements to support our compliance efforts with the General Data Protection Regulation (GDPR).
- Introducing an AI Admissions Assistant, the first conversational assistant designed specifically for higher education institutions seeking to improve their engagement with prospective students to drive higher enrollment.
- Expanding the company’s intellectual property portfolio with a new patent granted for AI-powered systems that automatically carry on conversations, including tools to build those conversations and train the AI to execute them.
- Completing the Intelligens acquisition with the addition of customers in South America, over 200 Spanish conversation types, and new technical integrations and communication channels.
- Receiving multiple technology and business awards and recognition in notable lists, including the CB Insights AI 100, the Inc. 5000, Silicon Valley Fast 50, and San Francisco Business Times Fast 100 lists of fastest growing private companies.
- Increasing international presence on three continents and the number of employees, with important new additions in data science, engineering, customer success, and sales to support the company’s continuing growth.
“Conversica’s ongoing momentum speaks to the power of using conversational AI to automate routine but important business conversations that lead to real business results,” observed CEO Alex Terry. “Conversica created the conversational AI category and continues to lead the industry in terms of technology innovation, customer acquisition and revenue. In addition to growing the market for our flagship sales and marketing solutions, we are also investing in our larger vision of automating important conversations and processes across the enterprise to create a better customer experience, free employees for more valuable work, and deliver on the promise of AI Assistants and humans working harmoniously and efficiently together.”
Driving Product Innovation in Conversational AI
Conversica deployed important technical capabilities in 2018, including enhancements to interoperability, customer conversations, platform administration, and security and data privacy. The company delivered new integrations with popular CRM, marketing automation, and dealer management systems, including Microsoft Dynamics CRM, HubSpot Sales Hub and CRM, CDK and AutoAlert, to further enrich conversations between Conversica AI Assistants and humans. The AI Assistant conversation library was also expanded with hundreds of new conversations across multiple assistant skill categories, as well as new support for German, Portuguese and Japanese languages.
Creating Specialized AI Assistants
This year Conversica added the industry’s first AI-powered Admissions Assistant for higher education to the company’s portfolio of virtual assistants powered by conversational AI.
Contacting prospective students to boost enrollment, the new assistant enables busy admissions teams to engage prospective students in a personal yet automated way, at scale. Another addition to the Conversica virtual assistant portfolio, the AI Customer Success Assistant which focuses on boosting customer retention and revenue expansion, will be launched next month.
Security and Data Privacy Enhancements
Conversica also extended its support for the EU’s GDPR in 2018. Conversica created services and processes designed to help customers who are data controllers under GDPR to achieve compliance by protecting end user data and personal information. Conversica’s expansive and thorough GDPR program shows its serious commitment to supporting companies which are serving persons residing in the EU. More information on Conversica and the GDPR can be found here and here.
Strategic Acquisition of Intelligens
2018 also saw Conversica’s acquisition of Intelligens, a Santiago-based provider of conversational AI for sales and marketing focused on the Latin American market. Founded in 2016, Intelligens served dozens of customers in Chile, Peru, Colombia and Bolivia. The Intelligens acquisition brings new integrations and a rich repository of AI conversations in Spanish, adding to Conversica’s already extensive machine learning data set. Conversica has integrated Intelligens’ technology, conversations and data set into the company’s conversational AI platform, allowing Conversica customers to leverage new capabilities, as well as a larger training data set and increased AI accuracy when seeking to reach the 400 million+ Spanish speakers in the world.
Multiple Awards and Honors
Conversica was recognized numerous times in 2018. The company earned a “Best Application of AI for Sales and Marketing” Alconics award and was named to the CB Insights AI 100. Conversica also earned a Digiday Technology Award for best sales automation platform. Finally, Conversica was named the 10th fastest growing company on the Silicon Valley Business Journal’s “Fastest Growing Private Companies in Silicon Valley” list and was again recognized with an improved position in the San Francisco Business Times Fast 100 list. The company also continued its move up the Inc. 5000 for the third year in a row, while Conversica CEO Alex Terry was named a Top 50 SaaS CEO of 2018.
Conversica is the leader in conversational AI for business and the only provider of AI-driven lead engagement software for marketing and sales organizations. The flagship Conversica® AI Sales Assistant helps companies find and secure customers more quickly and efficiently by automatically contacting, engaging, qualifying and following up with leads via natural, two-way conversations. Used by more than 1,000 companies worldwide, Conversica’s sales assistants are built on a proven and patented AI platform integrating natural language processing (NLP), natural language generation (NLG), and machine learning (ML) capabilities and engage prospects over multiple communication channels and in multiple languages. Recognized by Gartner as a Cool Vendor, Conversica is a portfolio company of Providence Equity, Kennet Partners and Toba Capital and is headquartered in Foster City, Calif. To learn more, visit conversica.com and follow the company on Twitter, LinkedIn and Facebook.
All Press Releases
- Conversica Raises $31 Million in Series C Funding to Fuel Expansion of Conversational AI for Business
- Conversica’s Market Momentum Continues in 2018 with Rapid Growth, New AI Capabilities and Series C Funding Round
- Conversica Chief Scientist to Speak on Deep Reinforcement Learning at the O’Reilly Artificial Intelligence Conference in London
- Conversica Announces the Winners of Its Inaugural Lead Provider Awards for the Automotive Industry
- Conversica Launches Industry’s First AI-Powered Admissions Assistant for Higher Education
- Conversica Reveals Dreamforce AI Attitudes
- Conversica Continues Winning Streak With AIconics Award Win
- Conversica Announces Inaugural Lead Provider Awards for the Automotive Industry
- Conversica Wins Digiday Technology Award for Best Sales Automation Platform
- Conversica’s Alex Terry Named a Top 50 SaaS CEO of 2018
- Conversica Chief Scientist to Share AI Insights at VentureBeat Transform and the Global Big Data Conference
- Conversica Continues to Move Up Inc. Magazine’s List of America’s Fastest-Growing Private Companies — the Inc. 5000
- Conversica Honors Alan Turing, Father of Artificial Intelligence, on ‘AI Day’
- Conversica Strengthens Executive Bench With Addition of Gregg Ames as Chief Sales Officer
- New Conversica Research Reveals Higher Education Institutions Need to Improve Follow-Up With Prospective Students
- New PCG Research on the Automotive Industry Finds That Conversica’s AI Solutions Are ‘Bursting With Exponential Opportunity for Dealers’
- Conversica to Showcase How Conversational AI is Automating Lead Follow-Up at the Marketo Summit Next Week
- Conversica Names Bevi the Winner of the 2018 AI Assistant of the Year Contest
- Conversica Partners With Microsoft to Bring Conversational AI to Microsoft Dynamics 365
- Conversica Wins 2018 Awards for Applying Conversational AI to Automotive Customer Acquisition and Retention
- Conversica Will Demonstrate at 2018 NADA Show How Conversational AI Boosts Showroom Visits and Customer Retention
- Conversica to Reveal How Artificial Intelligence Can Convert More Leads into Sales Opportunities at the LeadsCon Performance Marketing Conference
- Renowned Artificial Intelligence Expert Dr. Sid J. Reddy to Share Research and Insights at AVIOS Conversational Interaction Conference
- Conversational AI Leader Conversica Acquires Intelligens.ai, Accelerating Growth and Technology Leadership
- Conversica Named to CB Insights 2018 ‘AI 100’
- Conversica Voted Best Salesforce App at Dreamforce 17
- Conversica to Demonstrate Advances in Conversational AI for Business at Dreamforce 2017
- Conversica Chief Scientist to Share Insights on Artificial Intelligence at Venture Beat Summit and AI Expo
- Conversica Named to San Francisco Business Times ‘Fast 100’ List of Bay Area’s 100 Fastest-Growing Private Companies
- Conversica, an Oracle Partner, Now Deeply Integrated with Oracle’s Customer Experience Suite
- Conversica Powers Superhuman Lead Follow-Up at INBOUND 2017 This Week
- Conversica CEO to Share Insights on Artificial Intelligence and Conversational Commerce at Opus Research Intelligent Assistants Conference
- Conversica Delivers Record Growth and Innovation as the Leader in Conversational AI for Business
- Conversica Appoints Dr. Sid J. Reddy as Chief Scientist to Innovate and Scale Conversational AI Platform as Company Accelerates Growth
- Conversica Names Brian Kaminski Chief Customer Officer to Accelerate Value for Customers in the Midst of Dramatic Company Growth
- Conversica Appoints Victor Belfor Senior Vice President of Business Development to Accelerate Strategic Partnerships
- Conversica to Reveal How Artificial Intelligence Can Convert More Leads into Sales Opportunities at the LeadsCon Connect to Convert Conference
- Conversica Named a Red Herring Top 100 Winner
- Conversica to Showcase at SiriusDecisions Conference How Utilizing Artificial Intelligence-Based Assistants Boosts Sales Pipeline and Marketing ROI
- Conversica to Present and Showcase Latest Artificial Intelligence-Based Sales Technology at Sales 3.0 Conference in San Francisco
- Americans Say Artificial Intelligence Will Increase Productivity, Free Up Spare Time and Ease Strain of Repetitive Tasks
- Conversica and Leading Customers to Reveal How Artificial Intelligence Is Transforming Lead Engagement and Conversion at Marketo Marketing Nation Summit
- Conversica to Exhibit and Speak at AA-ISP Leadership Summit 2017
- Auto Dealerships Lead All Other Industries in Effective Lead Follow-Up, Conversica Study Reveals
- Conversica to Showcase How Artificial Intelligence Is Used to Convert More Leads Into Customers at LeadsCon Las Vegas
- Conversica Customer and AI Champion at Talend to Present at B2B Content2Conversion Conference
- Conversica Recognized for Providing Best AI in the Enterprise
- Conversica Delivers Major Upgrades to AI-powered Business Conversations
- Conversica Wins 2017 Distinguished Marketing Award for Applying AI to Automotive Dealership Fixed Operations
- Auto Dealers Celebrate AI-Powered Internet Lead Engagement with Conversica, after Nearly 100 Years of Doing It the Hard Way
- Artificial Intelligence Innovator Conversica Raises $34 Million in Oversubscribed Series B
- Two-Thirds of Companies Fail to Effectively Follow Up on Inbound Sales Leads, New Research Reveals
- Conversica Powers Superhuman Lead Engagement at SiriusDecisions Technology Exchange This Week
- Conversica to Debut AI Service Assistant at Automotive Fixed Ops Conference
- Conversica to Debut Latest AI-Powered Sales Assistant at Dreamforce
- Conversica to Exhibit and Present at Insurance Disrupted 2016 Conference on Innovative Technologies
- Conversica to Exhibit and Present at LeadsCon, the Definitive Conference for Performance Marketers
- Conversica to Exhibit and Present at Digital Dealer 21 Conference & Exposition
- Conversica to Showcase Newest AI Sales Technology at Sales 2.0 Conference
- Conversica Recognized for Technology Leadership in Service Marketing
- Conversica’s AI-Powered Sales Assistant Bears Fruit at Sales Machine Summit 2016
- Conversica’s AI-Powered Sales Assistant to Make Personal Appearance at CRM Evolution
- Conversica’s AI-Powered Sales Assistant Visits the Sirius Decisions Summit This Week
- Conversica’s AI-Powered Sales Assistant is Appearing Again at the Marketo Marketing Nation Summit
- Research Finds Automotive Industry on Top in Lead Follow-Up Across Nine Industries
- Conversica Named a “Cool Vendor” by Gartner
- Conversica to Exhibit and Speak at AA-ISP Leadership Summit 2016
- Conversica Wins 2016 Automotive Website Award (AWA) for Sales Process
- Conversica Launches new AI-based Assistant for Automotive Service Departments
- Conversica’s Artificial Intelligence to Appear at NADA 2016 in Las Vegas
- Conversica’s AI-Powered Sales Assistant Will Be Engaging Leads at LeadsCon Las Vegas
- Conversica to Exhibit and Speak at CBT Automotive Conference & Exposition
- Survey Finds Extremely Poor Sales Lead Follow Up Across Nine Industries
- PCG Research Finds 200% Increase in Email Open Rates for Auto Dealers Using Conversica Lead Engagement Software
- Conversica to Exhibit and Speak at Digital Dealer 20 Conference & Exposition
- Conversica Ends a Record Year of Customer and Company Growth and Notable Industry Recognition
- Conversica Partners With Velocify to Help Customers Quickly and Effectively Engage Leads and Boost Conversion
- Conversica Announces Automotive Industry Advisory Board
- Conversica to Showcase Unique Automotive Lead Engagement at Digital Dealer19 Conference
- Study Finds Sales and Marketing Wasting 50% of Time and Money on Leads
- Conversica to Showcase Best Practices for Alignment of Sales and Marketing at Dreamforce
- Conversica AI to Make Personal Appearance at LeadsCon New York
- Conversica Names SaaS Veteran Jason Lund as New CFO
- Conversica Named 2015 CRM Market Rising Star by CRM Magazine
- Conversica Names SaaS Industry Veteran Alex Terry as New CEO
- Conversica Named Most Innovative and Overall Winner of 2015 NextGen Relationship Intelligence Award
- Conversica’s AI to make personal appearance at Salesforce World Tour in New York City
- Conversica Recommends Tips to Increase Inside Sales Effectiveness
- Ticketmaster Engineering Executive Joins Conversica to Grow Technology Team and Further Drive Innovation
- Conversica Announces Marketo Partnership and Integration
- Conversica Announces Major Sponsorship of AA-ISP to Help Advance the Profession of Inside Sales
- Former Serena Software Executive Carl Landers Joins Conversica as Chief Marketing Officer
- Conversica to Demonstrate Award-Winning Technology for Intelligent Lead Qualification at LeadsCon 2015
- Conversica Wins Most Innovative Company Award from LeadsCouncil
- Conversica Demonstrates Artificial Intelligence for Sales at SaaStr Escape Velocity Conference
- Conversica to Demonstrate Leading Auto Industry Lead Conversion Software at NADA 2015
- QuoteWizard Increases Engagement Rates to 40 Percent and Improves Lead Quality with Conversica
- Vern Fonk Closes 33 Percent of Internet Leads with Conversica
- Spring Venture Group Decreases Cost Per Lead Acquisition by 30 Percent with Conversica
- The Faulkner Organization Increases Qualified Showroom Traffic by 50 percent with Conversica
- Lead Conversion Landmines and How to Avoid Them
- Former DocuSign Executive joins Conversica as Vice President of Business Development
- Conversica Publishes Infographic on Bridging the Divide Between Marketing and Sales
- Conversica Launches Crush Your Quarter Promotion
- Conversica Now Available for the Salesforce1 Mobile App – Empowering Companies to Run Their Business from Their Phones
- Artificial Intelligence Technology is Changing How Marketing and Sales Organizations Interact with Leads
- Conversica Adds Two SaaS Industry Veterans to Board of Directors
- Sales Veteran Mike Grossman Joins Conversica as VP of Sales, Enterprise
- Home Rental Company Nets US$1.5 Million Annual Revenue Increase After Using Conversica for Three Months
- Conversica Completes Major Rebranding Effort in Less Than Two Months For Less Than US$100,000
- AVA.ai Announces Name Change to Conversica
- Why You Should Stop Using Autoresponders : A Better Solution Exists
- Marketing Veteran Michael E. Donner Joins AVA.ai (now Conversica) as SVP, CMO
- QuoteWizard & AVA.ai (now Conversica) Unveil Automated Virtual Assistant for Insurance Agents
- Kennet Partners announces US$16 Million investment in AVA.ai (now Conversica) and names Mark A. Bradley as CEO
- AVA (now Conversica) from AVA.ai Wins 2013 PCG Spotlight Award